As EV sales boom and grids seek more energy storage, researchers are racing to develop batteries that are cheaper, more powerful, and less reliant on hard-to-source materials. Lithium-ion still dominates, but sodium-ion and solid-state technologies are moving from lab to market.

The market for batteries these days is insatiable. Demand has grown more than fortyfold since 2010, thanks mainly to electric cars: Sales of EVs hit 20 million in 2025, or about a quarter of all cars sold globally. Shipping containers packed with batteries are also being called into play to store the electricity from renewables like solar. Storage capacity for the grid has grown twentyfold in just five years.

This boom has fed a frenzy in battery research and development. “In the past five years, innovation went very, very fast,” says Teo Lombardo, a former battery chemist and now an analyst for the International Energy Agency. “In 2024, over 40 percent of energy-related patents were on batteries. That’s never happened before.…